Liv-ex has created the Port 50 Index, which tracks the price performance of the last ten vintages of the five most actively traded Port wines: Dow, Fonseca, Graham, Taylor and Warre.
As the chart above demonstrates, the Port 50 has been climbing slowly and steadily. It has shown very little volatility since its earliest point in January 2005.
Since then, the index has risen by 64.2%. In contrast, the Liv-ex 1000 – the broadest measure of the market – has risen by a much larger 242.8%. Although this might not excite speculators, it does suggest that relative value might be found in Port; a theme that we will return to in the coming weeks.
When it comes to the Port 50 Index’s constituents, Dow has emerged as the best performer. It broke away from the others in 2014, following the announcement from Wine Spectator that Dow 2011 would be named Wine of the Year. The 2011’s price has risen by 142% since.
Dow 2007 has also benefited from its critical acclaim. James Suckling awarded the wine 100 points in 2012, and more recently in 2017. Since his first review, its market price has increased by 64%.
A quick note for our London-based readers. This weekend, Robert Parker’s Wine Advocate will be hosting a series of tasting events in London, including a walk-around event on Saturday at the De Vere Grand Connaught Rooms, and a film premiere on Sunday.
Our readers can enjoy 25% off tickets when booked online. Simply enter the code LIVEX18 at the checkout.
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